AP Photo/Richard Drew
- Fiat Chrysler shares dove more than 10% after company cut guidance on 2018 financial results.
- The auto giant said it expected net revenues of between €115 billion and €118 billion in 2018, down from the previous forecast of €125 billion.
- Shares were briefly halted because of the size of the drop.
- The announcement came on the same day as the death of former CEO Sergio Marchionne.
LONDON — Shares in Fiat Chrysler dropped sharply on Wednesday after the automotive giant cut its guidance for both revenues and profits in 2018.
Fiat Chrysler said it expected net revenues of between €115 billion and €118 billion in 2018, down from the previous forecast of €125 billion. Net earnings before interest and taxes are expected to be between €7.5 billion and €8 billion, compared to €8.7 billion as of the last forecast.
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